Quantinno Capital Management LP Sells 1,788 Shares of Masimo Co. (NASDAQ:MASI)

Quantinno Capital Management LP cut its holdings in Masimo Co. (NASDAQ:MASI) by 45.9% during the third quarter, Holdings Channel reports. The firm owned 2,110 shares of the medical equipment provider’s stock after selling 1,788 shares during the quarter. Quantinno Capital Management LP’s holdings in Masimo were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. NBC Securities Inc. lifted its holdings in shares of Masimo by 47.1% in the third quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 73 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Masimo by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock worth $44,000 after purchasing an additional 200 shares in the last quarter. HHM Wealth Advisors LLC boosted its holdings in shares of Masimo by 25.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock valued at $79,000 after purchasing an additional 125 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Masimo by 16.4% during the second quarter. Fifth Third Bancorp now owns 695 shares of the medical equipment provider’s stock valued at $88,000 after purchasing an additional 98 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Masimo in the second quarter worth about $109,000. 85.96% of the stock is currently owned by institutional investors.

Masimo Stock Up 0.6 %

Shares of MASI opened at $176.14 on Monday. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $157.26 and a 200 day moving average of $133.23. The company has a market cap of $9.43 billion, a PE ratio of 121.48 and a beta of 1.01. Masimo Co. has a 52-week low of $101.61 and a 52-week high of $178.87.

Masimo (NASDAQ:MASI) last released its earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.14. The firm had revenue of $504.60 million during the quarter, compared to analyst estimates of $502.87 million. Masimo had a net margin of 3.85% and a return on equity of 14.98%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. On average, sell-side analysts expect that Masimo Co. will post 4.03 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on MASI. BTIG Research increased their price target on Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 target price (up from $170.00) on shares of Masimo in a research report on Friday, November 22nd. Raymond James upgraded shares of Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price target on the stock in a research report on Wednesday, November 6th. Piper Sandler increased their price objective on shares of Masimo from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Masimo in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $170.67.

About Masimo

Masimo Corporation develops, manufactures, and markets various patient monitoring technologies, and automation and connectivity solutions worldwide. The company offers masimo signal extraction technology (SET) pulse oximetry with measure-through motion and low perfusion pulse oximetry monitoring to address the primary limitations of conventional pulse oximetry; Masimo rainbow SET platform, including rainbow SET Pulse CO-Oximetry products that allows noninvasive monitoring of carboxyhemoglobin, methemoglobin, hemoglobin concentration, fractional arterial oxygen saturation, oxygen content, pleth variability index, rainbow pleth variability index, respiration rate from the pleth, and oxygen reserve index, as well as acoustic respiration monitoring, SedLine brain function monitoring, NomoLine capnography and gas monitoring, and regional oximetry.